RNS Number:2413S
Exeter Smaller Co's Income Fund Ld
19 November 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

Exeter Smaller Companies Income Fund Limited



2)   Name of shareholder having a major interest
New Star Asset Management Limited


3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
As per (2) above


4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them

New Star Maximum Income Portfolio Unit Trust - 1,250,000shs
New Star UK Capital Growth Portfolio Unit Trust - 1,100,000shs
New Star Zero Preference Portfolio Unit Trust - 5,350,000shs


5)   Number of shares/amount of stock acquired
7,700,000 Ordinary Shares


6)   Percentage of issued class
12.03%


7)   Number of shares/amount of stock disposed
Nil


8)   Percentage of issued class
Nil


9)   Class of security
Ordinary


10)  Date of transaction
01/09/03


11)  Date company informed
18/11/03


12)  Total holding following this notification
7,700,000



13)  Total percentage holding of issued class following this notification
12.03%


14)  Any additional information
No


15)  Name of contact and telephone number for queries
David Le Boutillier: 01481 710607


16)  Date of notification:

19/11/03




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